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AMERICAN AIRLINES GROUP INC.

(AAL)
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U.S. airline passenger traffic down 62% in October -DOT

12/08/2020 | 11:40am EDT

WASHINGTON, Dec 8 (Reuters) - U.S. airlines carried 62% fewer passengers in October over the same month last year, the U.S. Transportation Department said on Tuesday.

The 62% decline from October 2019 was the smallest year-to-year decrease since March when the coronavirus pandemic slashed U.S. travel demand. The largest airlines carried 29.9 million passengers in October, down from 78.3 million passengers in October 2019. U.S. domestic demand was down 60% and international demand was off 77%.

Airlines for America, an industry group, said this week it estimates that through late November passenger demand remains down 62%.

A spike in COVID-19 cases and guidance from U.S. health agencies urging Americans to avoid holiday travel has led to a recent softening in travel demand.

International travel demand has also been harmed by U.S. travel restrictions that bar most non-U.S. visitors who have recently been in the European Union, United Kingdom, China and Brazil from visiting the United States.

American Airlines said Friday "rising COVID-19 case counts and associated travel restrictions ... have resulted in a slowing of net bookings growth, which has persisted into December."

Delta Air Lines warned Thursday it would lose about $2 million more than forecast each day in the fourth quarter, but kept a target to halt its cash burn next spring.

Airlines are hoping vaccine prospects will start lifting demand throughout 2021 but do not expect a full recovery for some time.

The Transportation Department said Monday that U.S. passenger airlines reported third-quarter after-tax net losses of $11.8 billion and a pre-tax operating loss of $15.9 billion. (Reporting by David Shepardson Editing by Chizu Nomiyama and Chris Reese)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN AIRLINES GROUP INC. -0.80% 19.73 Delayed Quote.25.11%
DELTA AIR LINES, INC. -0.27% 40.11 Delayed Quote.-0.25%
SPRING AIRLINES CO., LTD. 1.55% 54.99 End-of-day quote.-0.79%
UNITED AIRLINES HOLDINGS, INC. 0.16% 44.54 Delayed Quote.2.98%
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Financials (USD)
Sales 2021 29 849 M - -
Net income 2021 -1 987 M - -
Net Debt 2021 31 548 M - -
P/E ratio 2021 -5,52x
Yield 2021 -
Capitalization 12 774 M 12 774 M -
EV / Sales 2021 1,48x
EV / Sales 2022 1,04x
Nbr of Employees 117 400
Free-Float 98,1%
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American Airlines Group Inc. Technical Analysis Chart | AAL | US02376R1023 | MarketScreener
Technical analysis trends AMERICAN AIRLINES GROUP INC.
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Mean consensus HOLD
Number of Analysts 22
Last Close Price 19,73 $
Average target price 20,28 $
Spread / Average Target 2,76%
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Managers and Directors
William Douglas Parker Chairman & Chief Executive Officer
Robert D. Isom President
Derek J. Kerr Chief Financial & Accounting Officer, Executive VP
Maya Leibman Chief Information Officer & Executive VP
Kevin Brickner Senior Vice President-Technical Operations